36Kr Evening News | KFC signs a franchise agreement with Turkey's HD Holding; Rivian recalls over 24,000 electric vehicles due to software issues; Ant Digital Technology will launch a new "pay-for-performance" business model
Large Companies:
The monthly active users of Gaode AI Travel Agent "Teacher Xiaogao" exceed 400 million
36Kr learned that at the recent product launch event of "Gaode Street-Sweeping List", Gaode Maps announced externally that the daily call volume of its intelligent agent (Agent) "Teacher Xiaogao" created for travel life has reached 1.2 billion times. The latest data shows that in less than a month since its launch, the monthly active user number of "Teacher Xiaogao" has exceeded 400 million.
KFC signs a franchise agreement with Turkey's HD Holding
On September 11 local time, Dogan Investment Bank, which serves as KFC's advisor, posted a message on LinkedIn saying that KFC has signed a franchise agreement with Turkey's leading fast-food chain enterprise HD Holding. This agreement will allow HD Holding to operate KFC restaurants in Turkey according to its brand and standards. (Jiemian)
On September 12, Google Cloud issued a statement saying that it has won a contract worth £400 million to provide UK sovereign cloud services for the UK Ministry of Defence (MOD). Google Cloud said that it will provide the Ministry of Defence with a secure cloud infrastructure for the processing of secure information and support the application of artificial intelligence and cybersecurity tools. (Jiemian)
Rivian recalls more than 24,000 electric vehicles due to software problems
The US National Highway Traffic Safety Administration (NHTSA) said on Friday that electric vehicle manufacturer Rivian will recall more than 24,000 2025 R1S and R1T electric vehicles because a software defect may cause its highway assist system to misidentify the leading vehicle. The NHTSA added that Rivian has released an over-the-air software update to solve this problem. (Sina Finance)
According to the announcement of the Ministry of Industry and Information Technology, the first extended-range SUV of XPeng, the XPeng G7 Super Extended Range, is coming. The XPeng G7 Super Extended Range will be equipped with the all-domain 800V high-voltage platform architecture + 5C super-charging AI battery and have a pure-electric driving range of up to 430 km. It is expected to be officially launched in the first quarter of 2026. (Securities Times)
Investment and Financing:
36Kr learned that Tuojing Technology issued an announcement saying that the company plans to issue A-shares to no more than 35 specific investors, with the total amount of funds raised not exceeding 4.6 billion yuan. After deducting the issuance expenses, the funds are planned to be used for the construction project of a high-end semiconductor equipment industrialization base, the construction project of a cutting-edge technology R & D center, and the replenishment of working capital.
The CEO of Carro, Southeast Asia's largest online used-car trading platform, said that the company is considering a dual listing and plans to expand its scale for this purpose: it will enter the Australian market as early as next quarter and promote two to three merger and acquisition deals at the same time. (Sina Finance)
Nezha Auto holds its first creditors' meeting, and the confirmed claims are about 5.1 billion yuan
On the morning of September 12, more than 100 days after announcing the bankruptcy reorganization, the first creditors' meeting of Hozon New Energy Automobile Co., Ltd., the operator of the Nezha Auto brand, was officially held online. It was learned from the online participants that the administrator of Hozon New Energy Automobile Co., Ltd. (hereinafter referred to as "Hozon New Energy") (hereinafter referred to as "the administrator") disclosed the ongoing bankruptcy reorganization and some of its data. The administrator disclosed that as of August 31, a total of 1,631 creditors (of Hozon New Energy) had filed claims with the court, with the total amount of the claimed debts exceeding 26 billion yuan. Among them, a total of 1,340 claims have been reviewed and confirmed, and the total amount of the confirmed claims is about 5.1 billion yuan. (Yicai)
36Kr learned that the Aiqicha App shows that recently, Guangzhou Baiyun International Airport First Terminal Area Management Co., Ltd. was established with a registered capital of 100 million yuan. Its business scope includes aviation operation support services, advertising production, aviation business services, unit logistics management services, etc. The shareholder information shows that the company is wholly owned by Guangzhou Baiyun International Airport Co., Ltd.
New Products:
Based on public information, spy photos, and information provided by multiple industry insiders, 36Kr Auto has initially sorted out the product lineup of Hongmeng Zhixing for next year. Next year, more than 17 models of Hongmeng Zhixing are expected to be on sale. In addition to existing models such as the Wenjie M5, M7, M8, M9, Xiangjie S9T, S9 Ultra, Zunjie S800, Shangjie H5, Zhijie S7, and R7, new cars will be launched in all five segments of Hongmeng Zhixing next year. An industry insider told 36Kr that when defining the product of the Zunjie SUV, it is benchmarked against luxury brand models such as the Range Rover and Rolls-Royce. However, in terms of product pricing, to achieve large-scale sales, its price will be lower than that of the Zunjie S800 but higher than that of the Wenjie M9.
Ant Digital Technology will launch a new "pay-by-effect" business model
36Kr learned that Ant Digital Technology will launch a new business model of "paying by effect". This model allows enterprise customers to pay according to the actual effects of large model applications, rather than the traditional project-based or subscription-based models. "The measurement standard for enterprise-level AI services should shift from 'paying for technology' to 'paying for effects'. For some products that focus on results, customers can choose to pay for the visible effects." Yu Bin, the vice president of Ant Digital Technology, said that currently, Ant Digital Technology has reached a cooperation model based on key business effects with some strategic customers and will gradually promote it to the entire industry.
Today's Views:
The "scissors gap" between M1 and M2 in August reached the lowest level in more than four years
On September 12, the data released by the People's Bank of China showed that as of the end of August, the growth rate of narrow money (M1) was 6%, up 0.4 percentage points from the previous month; the growth rate of broad money (M2) was 8.8%, the same as the previous month. The growth rate gap between M1 and M2, which reflects the degree of capital activation, further narrowed to 2.8% from the previous month, the lowest level since June 2021. Market analysts believe that since this year, the "scissors gap" between M1 and M2 has significantly narrowed, and more funds have been converted into current deposits, which is conducive to investment in economic activities such as consumption and investment. (Securities Times)
On September 12, Kweichow Moutai held its 2025 semi - annual performance briefing. Some investors suggested that the company conduct a share split, such as a 1 - for - 10 split. In response, Wang Li, a director of the listed company (acting as the general manager), said that regarding whether to split the shares, the views of shareholders are not completely unified at present. Some support it, and some oppose it. All are from the perspective of Moutai's development. Thank you very much for your concern about Moutai. From existing cases, there are advantages and disadvantages to both share split and non - split. If there is an opportunity, we are willing to discuss this topic with our shareholders. (Securities Times)
Other Noteworthy News:
The CSRC severely punishes the serious financial fraud case of Orient Information Technology
36Kr learned that according to the website of the CSRC, recently, the CSRC issued a prior notice of administrative penalty for the suspected false records in the financial data of periodic reports of Beijing Orient Information Technology Co., Ltd. (referred to as *ST Dongtong), a listed company on the ChiNext of the Shenzhen Stock Exchange. After investigation, *ST Dongtong inflated its revenue and profits for four consecutive years, violating securities laws and regulations. The CSRC plans to fine the listed company 229 million yuan, fine seven responsible persons a total of 44 million yuan, and ban the actual controller from the securities market for 10 years. *ST Dongtong is suspected of triggering the major illegal compulsory delisting situation, and the Shenzhen Stock Exchange will initiate the delisting procedure in accordance with the law. For possible criminal clues, the CSRC will adhere to the principle of transferring all clues that should be transferred and strictly transfer them to the public security organs in accordance with the provisions of the "Criminal Law" and the "Regulations on the Standards for Filing and Prosecution of Criminal Cases under the Jurisdiction of Public Security Organs (II)" jointly issued by the Supreme People's Procuratorate and the Ministry of Public Security.
36Kr learned that the People's Bank of China established an annual evaluation and adjustment mechanism for primary dealers in open - market operations in 2004 and adjusted the evaluation mechanism in 2018, which has provided strong support for the smooth conduct of open - market operations in recent years. To adapt to the transformation of the monetary policy operation framework and the development of the financial market and pay more attention to the transmission of monetary policy, the People's Bank of China has further optimized and simplified the evaluation indicators, clearly implemented classified assessments for different types of institutions, and strengthened the linkage with the assessment of bond market - makers. The adjusted evaluation method for primary dealers will be implemented in 2025, and the list of primary dealers in open - market operations for 2025 will remain unchanged. Primary dealers with improper behavior during the evaluation period will be suspended from participating in open - market operations, and those with serious circumstances will be disqualified as primary dealers in the following year.
The 14th meeting of the China - UK Joint Economic and Trade Commission was successfully held
36Kr learned that according to the website of the Ministry of Commerce, on September 11, Minister of Commerce Wang Wentao and UK Secretary of State for Business and Trade Peter Kyle co - chaired the 14th meeting of the China - UK Joint Economic and Trade Commission and had in - depth exchanges of views on topics such as trade, investment, multilateral and regional issues, reaching a wide range of consensus. The two sides agreed to hold meetings of the China - UK WTO Joint Working Group, the Trade Remedy Exchange and Cooperation Mechanism, and the Service Trade Working Group; give full play to the role of the China - UK Export Control Working Group to facilitate the trade of compliant dual - use items; strengthen investment policy exchanges and cooperation to create a fair and non - discriminatory business environment; strengthen cooperation in fields such as new energy, medicine, advanced manufacturing, and finance and expand cooperation between localities and enterprises; strengthen cooperation in the field of standards and promote technological cooperation. During the meeting, the two sides signed the "Memorandum of Understanding on the Establishment of the China - UK WTO Joint Working Group" and the "Memorandum of Understanding on the Establishment of the China - UK Trade Remedy Exchange and Cooperation Mechanism". After the meeting, Minister Wang Wentao and Secretary of State Kyle exchanged views with representatives of some British - funded enterprises, as well as the British Chamber of Commerce in China and the China - Britain Business Council.